XRP trading at $10 per coin isn’t impossible, given the many use cases and wide adoption the crypto asset has received over the years. But looking at the price of XRP at the time of writing, it may take several months or even years for the sixth-largest cryptocurrency by market capitalization to clock such a high value. 

At press time, XRP is exchanging hands at $0.5287, following a 4.63% increase in the past 24 hours. With this current value in mind, XRP would need to increase by 18.9 times to reach $10 per coin.

It is commonly believed that a win for the Silicon Valley technology company Ripple in the longstanding XRP lawsuit against the United States Security and Exchange Commission (SEC) could catalyze XRP’s price growth in the coming months or years, putting it in the direction to $10 per coin.

Numerous Positive Developments: XRP at $10 Price Point?

Already, the numerous positive developments such as the absence of XRP on the list of crypto assets deemed as securities by the SEC in its Monday lawsuit filed against the most popular crypto exchange Binance have created a bullish atmosphere for the XRP token.

Likewise, a top attorney Jeremy Hogan shared a document from the US Supreme Court that proved that XRP isn’t a security outside its initial investment contract. 

But in a scenario where the SEC wins Ripple in the lawsuit to maintain that XRP is a security, the crypto asset may record a sustained downtrend. Interestingly, many experts have submitted that Ripple is more likely to win the XRP lawsuit.

On the other hand, many technical analysts including Peter Brandt and Egrag predict a bullish season for XRP in the coming months. While the veteran investor Brandt expects XRP to reach $3 by the end of the year, Egrag noted that $10 and $27 are on the card for XRP.

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The leading crypto asset which touched $31,000 on Friday saw a price retracement to $30,400 in the early hours of Wednesday and subsequently plummeted to the $28,535 level the same day. Accordingly, XRP fell by 7.76% on Wednesday, touching $0.4710 all the way up from $0.5375. 

Responding to this retracement in XRP price, a top crypto analyst Jaydee urged XRP proponents to ignore every FUD and focus on the asset’s chart analysis which looks extremely bullish. Recall that Ripple, the San Francisco-based crypto solutions company and the top XRP backer excluded the asset from being used in its recently launched Liquidity Hub, stating that XRP lacks regulatory clarity. 

According to the TA expert, XRP is set for another massive rally, adding that its closing price this week would give a better confirmation and entry points. But in any case, XRP is on the verge of something big as per his forecast. 

He wrote, “Pay attention to the chart. XRP is on the verge of something big!! After weekly close, I’ll have better confirmation. Stop listening to irrelevant news that does nothing but REKT people and pay attention to the technical analysis.”

Pay attention to the charts.. $XRP is on the verge of something BIG!!

After weekly close, I'll have better confirmation. Stop listening to irrelavent news that does nothing but REKT people.. and pay attention to the TA

Retweet/like for the #XRP chart after weekly close!

— JD (@jaydee_757) April 18, 2023

But Jaydee added that XRP could dip a bit lower before the big rally takes the stage, as indicated by the Fibonacci technical indicator. “I’m waiting on more retracements. We have hit the 0.382 fib posted on the Patreon with exact precision. Hope to fill the rest at that 0.618 and 0.786 fib levels before heading higher,” he said on Wednesday.

XRP Price Analysis 

As things stand, XRP is moving in a symmetrical triangle at the time of writing, leaving investors to ponder on which trajectory the sixth-largest crypto by market cap would take in the coming days or weeks. 

This chart pattern was formed following XRP’s impressive performance in the last 30 days which took its price to $0.58 on March 29. While it is uncertain which direction the asset would take after escaping the symmetrical triangle, it bears noting that most times assets break out when caught in this chart formation. 

As published, Egrag Crypto, Dark Defender, and even veteran investor Peter Brandt expect XRP to rally upward and touch different highs. Notably, a positive outcome in the Ripple-SEC case would equally catalyze the expected XRP price surge.

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According to him, what would position XRP to be the asset that records the highest price gains in the next bull run is the outcome of the longstanding SEC v. Ripple lawsuit. The common belief is that a win for the United States Securities and Exchange Commission would send XRP downstream which could transcend into more red candles being seen in the wider crypto market. 

The widely followed Youtuber submitted that a ‘favourable settlement with no appeal’ would be enough to send XRP to the moon and make it the best performer in the crypto market in the next bull that is gradually building up. 

“In my opinion, as long as XRP gets at least a favorable settlement and no appeal, this will be the number one performing major coin of the next bull run,” Bitboy wrote. He added that “the suppression is almost over” for the sixth-largest cryptocurrency by market capitalization. 

Following the XRP lawsuit filed against Ripple by the SEC, XRP experienced its worst days since its inception between 2020 and 2022. Beyond that, several top crypto exchanges including Coinbase were forced to cease support for the XRPL Ledger native token. 

However, recent developments surrounding the two-year-long court battle and the optimism shared by Ripple CEO Brad Garlinghouse and the company’s President Monica Long have rekindled interest in the embattled asset lately. This saw XRP posting a gain of 58% in the first quarter of 2023. 

XRP has equally appeared on the watchlists of renowned TA experts who have shared their respective bullish sentiments on the asset. According to Peter Brandt, XRP would touch $3 by the end of the year. Likewise, Egrag Crypto and Defender Dark project the crypto asset to peak at $27 and $133 respectively by the end of 2023.

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The veteran investor believes the Ripple-supported digital token is set for a massive rally, having spotted a rare bottom formation on the XRPUSD chart he shared on Monday. “The daily chart displays a rare compound fulcrum,” he wrote, adding that the “chart looks very constructive.”

As seen on the chart, XRP has solid support at $0.2950 which energized the coin to break its local resistance at $0.494 this month, after retesting it three times between September and November of 2022. At the time of writing, XRP is trading for $0.54466 per coin. 

Following the impressive performance staged by XRP in the last couple of days, the veteran investor stated that “XRP is completing a very organized accumulation” and “fits  the  criteria for  an  asymmetrical  trade.” This means that XRP currently offers minimum risk but could give high returns. 

As per the knowledge of crypto market cycles, the accumulation phase which is characterized by a slow increase in the prices of a crypto asset always precedes the markup phase of such an asset. 

Accordingly, Brandt noted that the validity of the compound fulcrum support pattern formed by XRP would take the asset’s price near its all-time high recorded in 2018. 

In particular, Brandt expects XRP to touch $3 per coin. The positive expectations from the XRP community regarding the Ripple-SEC case could be among the catalysts to the actuality of this price action predicted by the renowned TA guru.   

Brandt wrote, “If the Fulcrum Bottom is legitimate, then  maybe the massive consolidation below the 2018 high resolves to the upside, and maybe the minimum price target is above $3.00, making this a 10:1 minimum trade setup.“

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With these misconceptions flying around, it is therefore important to know the facts about these two separate entities.  What exactly do Ripple and XRP represent? How do they relate? This article will give you the answers to these questions. 

What is Ripple?

Ripple is a top financial company based in San Francisco that adopts blockchain technology to facilitate instant cross-border payments for customers. It is a leading crypto solutions company and cross-border payment firm that helps customers and partners source crypto, empower their treasury, engage new audiences, lower capital requirements, and drive new revenue. 

Released to the public initially in 2012, by its co-founders Chris Larsen and Jed McCaleb, Ripple purports to facilitate secure, instant, and almost free global international remittances of any size with no chargebacks. The company employs XRPL technology to facilitate cross-border payments. 

The technology that enables Ripple to offer these enterprise-grade solutions is dubbed RippleNet. RippleNet was developed to provide an alternative to the SWIFT network by offering faster and cheaper global payments through the XRPL and XRP.

Particularly, RippleNet technology employs the native currency of the XRP Ledger known as XRP, to enhance international payments.

In other words, Ripple operates on a peer-to-peer (p2p) decentralized platform that permits the easy and uninterrupted transfer of money in any form, be it in dollars, euros, or cryptocurrencies such as Terra Classic (LUNC) and Cardano (ADA).

What is XRP?

XRP is the native token of the XRP Ledger. The 6th largest cryptocurrency by market capitalization was created by the XRPL founders in June 2012. The digital asset is available on many top crypto exchanges, reaching its all-time high (ATH) of $3.84 in 2018, according to Coinmarketcap data. 

Notably, the XRP Ledger (XRPL) is a decentralized, open-source, and permissionless blockchain. Jointly developed and launched by the trio David Schwartz, Jed McCaleb, and Arthur Britto in 2012, the XRP Ledger uses a very unusual consensus algorithm known as the XRP Ledger Consensus Protocol. 

XRP has many unique use cases. First, it is the cryptocurrency that powers gross settlements on the XRP Ledger (XRPL) blockchain. Financial institutions use XRP to make cross-border transactions because the XRPL is faster, scalable, and with cheap transaction fees. The distributed ledger can process over 1500 transactions per second.

Additionally, investors also use XRP as a store value and as an investment tool. The digital token also serves as a tool to protect the decentralized ledger (XRPL) from spamming activities.

XRP has a maximum supply of 100 billion tokens. The 100 billion XRP was pre-mined in 2012. 80% of the maximum was given out to Ripple by the token creators while the XRPL developers kept 20% of the XRP supply for themselves. 

What’s the difference between Ripple and XRP?

Ripple and XRP are not the same. Though they are often used interchangeably by some, they are both independent entities. 

Ripple is a global payments network with banks and other financial services institutions as its customers while XRP is a cryptocurrency launched by the XRP Ledger creators.  Ripple is a centralized entity while XRP is a decentralized digital asset. 

Ripple adopted XRP to facilitate quick and easy conversion between different fiat currencies. This happened after the XRP creators gifted Ripple 80 billion XRP back in 2012. 

XRP is not owned and was not invented by the crypto solutions company, Ripple Labs. Ripple only utilizes the digital token to facilitate prompt conversion between different currencies since XRPL takes 3-5 seconds to complete a transaction. 

How to buy XRP

Investors can purchase XRP on several exchanges. Top crypto exchanges that support XRP trading include Binance, Uphold, Newton, and many other centralized and decentralized exchanges.

Coinbase previously supported the crypto token trading but halted it in early 2021 due to the longstanding Ripple-SEC lawsuit. The XRP community continues to pressure the largest United States crypto exchange to relist XRP. 

Here are four steps to buying XRP

• Choose your desired crypto exchange or broker 
• Select your preferred payment method after setting up your exchange account
• Buy your XRP 
• Store your XRP in a secure crypto wallet

SEC case against Ripple

The U.S. Securities and Exchange Commission (SEC), filed a case against Ripple Labs in December 2020 for allegedly conducting a US$1.3 billion unregistered securities offering. 

The SEC pointed out that Ripple executives, Brad Garlinghouse, and co-founder Chris Larsen sold 14.6 billion units of XRP for more than $1.38 billion to fund the company’s operations and enrich themselves. The two continue battling it out in the ongoing court case.

In response, Garlinghouse, CEO of financial technology company Ripple Labs criticized the SEC and stated that Ripple Labs would continue to defend itself in court until it sees victory against the filed case. To date, Ripple Labs and XRP have proven to be controversial in that the SEC believes the coin was launched as an unregistered security.

Future of Ripple and XRP

According to some, Ripple’s future success greatly depends on the outcome of the SEC case. In contrast, Fortune Chief Editor James Roberts believes that both Ripple and XRP would succeed regardless of the outcome of the SEC case. 

Ripple and XRP have unique use cases including the On-Demand Liquid (ODL) product. Roberts believes this outstanding value proposition would fuel their future success and adoption. 

Despite the ongoing case, the XRP Ledger developers are actively creating new features on XRPL. Some of the developments are in the area of smart contracts, non-fungible tokens (NFTs), and sidechains among others.

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This record, though negative, was shared by Mr. Huber, a widely followed pseudonymous cryptocurrency analyst. As seen on the one-week XRP/ USD chart he dropped on Twitter, XRP printed twelve red candles in a row against the total crypto market.

That is, in the past 12 weeks, the asset has been on a steady downtrend amid the recent market-wide rally that saw bitcoin (BTC) surpassing $25,000 on Monday. Historical data further showed that the last time XRP performed in this manner was in March 2015.

Mr. Huber wrote last Sunday, “New record: Today XRP closes the 12th red candle in a row against the Total of Crypto. This has never happened since March 2015.”

A closer look at the published chart reveals that XRP could be staging a downward breakout from the descending triangle which it formed over the past weeks. 

While several XRP proponents like EgragCrypto expect the asset moon in the coming months, it is worth noting that the long-term price action and trajectory of XRP would be dependent on the outcome of the ongoing Ripple-SEC case. 

The asset is predicted to rally massively if the United States Securities and Exchange Commission (SEC) loses to Ripple in the longstanding XRP lawsuit. But if it goes the other way then, XRP would be set for a notable price drop. Ripple CEO Brad Garlinghouse expects the XRP lawsuit to be wrapped up by mid-2023. 

Looking at the recent updates in the case, the odds seem to be in favor of Ripple which is why many investors have been steadily accumulating XRP recently. More so, whales have been highly interested in the digital token as they continue to move hefty volumes on XRP on a regular basis.

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In a recent Twitter update, Cryptobull shared his rare bullish dispositions for both Bitcoin and XRP with his 140.5k followers, predicting a whopping price increase for the Ripple-backed token by June. He also expects the BTC price to surge by more than 552% in the coming months.

Bitcoin and XRP Price Targets

After a prolonged bear market for both BTC and XRP in 2022, which was fueled by a series of unprecedented project meltdowns in the crypto industry, both crypto assets have recorded significant price increases from January to date. 

Particularly, XRP has been up more than 12% in the last 30 days while Bitcoin has jumped by over 32% in the last month. Thus, CryptoBull, a prominent XRP permabull, expects the sixth-largest crypto asset by market capitalization to sustain its uptrend and gain 5,850% from its current price of $0.4. That is, the widely followed crypto pundit predicts that XRP would kiss $23.8 by June.

Related: Top Crypto Analyst Predicts the Start Date of XRP Price Bull Run

Per the chart published by the crypto strategist, XRP is expected to repeat a previous cycle it recorded in late 2017 — a surge that further caused XRP to reach its all-time high of $3.84 in early 2018.

#XRP chart shows price at $23.80 by June! pic.twitter.com/iKvT574Rdv

— CryptoBull (@CryptoBull2020) February 5, 2023

On the other hand, Bitcoin (BTC) is trading for $23,000 per coin at the time of writing. CryptoBull believes BTC would rise by over 552% from this current price in the months to come. Precisely, his price target for Bitcoin is $150,000, per a Wednesday tweet. He added that a positive price action from BTC would be highly beneficial to XRP price movement.

He wrote, “bottom is in and Bitcoin is going to $150,000 which is great for XRP.”

Bottom is in and #Bitcoin is going to $150,000 which is great for #XRP! pic.twitter.com/mWIK4s54nH

— CryptoBull (@CryptoBull2020) February 7, 2023

Read Also: Expert Analyst Predicts Massive Upside for XRP and Bitcoin (BTC). Here’s His Chart

It bears noting that the outcome of the XRP lawsuit filed against Ripple by the SEC would play the greatest role in deciding the XRP price direction. According to Ripple CEO Brad Garlinghouse, the legal tussle would be concluded around mid-2023.

Meanwhile, a prominent legal expert noted that XRP could skyrocket like LBC Token if the SEC lawsuit ends in Ripple’s favor.

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Ripple is a crypto solutions company and cross-border payment firm headquartered in San Francisco. The company adopts XRP — the XRP Ledger native currency — to facilitate its cross-border payment services for individuals as well as financial institutions. 

Following Ripple’s outstanding blockchain solutions, several financial companies have scored partnerships to expand their reach and optimize their businesses. Visa, on the other hand, has acquired about 4 Ripple partners within the last 6 years, according to disclosure by a pseudonymous XRP proponent, 24hourscrypto. 

Per the tweet, the Ripple partners acquired by Visa include EarthMoney and CurrencyCloud, while the payment giant scored a partnership with two other Ripple partners DeeMoney and Novatti. 

Notably, Ripple announced a global partnership with Earthport in December 2014. In December 2018, Visa outbidded Mastercard to buy Earthport for $250 million. Fast forward to March 2020, DeeMoney, a Thailand–based fintech company partnered with Ripple to power faster and cheaper cross-border money transfers.

Again, Visa partnered with DeeMoney last December. In December 2020, CurrencyCloud aligned with Ripple to leverage RippleNet technology for its business. A year later, Visa completed the acquisition of CurrencyCloud. 

These instances have compelled several people including the pseudonymous user to claim that Visa could be working with Ripple discreetly. “Visa is just following footsteps behind Ripple,” he said. He added that Visa is silently working with Ripple and this could take the XRP price to $100 in the future. 

Visa silently working with #ripple.. nothing to see here #XRP is going to FLY past $100 and that will have all the skeptics in SHOCK
#XRPHolders #xrpthestandard #XRPArmy pic.twitter.com/J935Dbxm4z

— 𝟸𝟺𝙷𝚁𝚂𝙲𝚁𝚈𝙿𝚃𝙾 (@24hrscrypto1) February 6, 2023

It remains unconfirmed the relationship between Visa and Ripple but per the update, it was noted that Visa plans to partner with blockchain companies offering cross-border payment solutions. Ripple stands out in this category as its RippleNet technology continues to expand amid the ongoing SEC XRP lawsuit.

Remarkably, Ripple’s crypto-powered payment solution is available in nearly 40 payout markets, up from just three markets in 2020, per the company’s 2022 Q4 market report. The report added that “Ripple has processed nearly $30 billion worth of volume and 20 million transactions since RippleNet was first launched. In 2022, approximately 60% of those payments were sent through its On-Demand Liquidity (ODL) network.”

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The XRP lawsuit filed against the cross–border payment firm Ripple in late 2020 by the United States Securities and Exchange Commission (SEC) greatly thwarted the price growth of XRP. 

How do we know this? This lawsuit, which has now lasted for more than two years, made many investors naturally lose interest in the coin as they perceived it to be a risky investment option. More so, it compelled several centralized cryptocurrency exchanges – particularly those based in the United States – to delist XRP, hampering the asset’s exposure. 

The largest U.S.–based crypto trading platform Coinbase and Newton were among those to delist XRP. While the Canada–headquartered exchange later relisted XRP in November 2022, Coinbase has remained adamant. But the XRP community and other entities like LBRY continue to mount pressure on Brian Armstrong’s exchange. 

Interestingly, there has been a rising investor interest in the sixth-largest crypto by market capitalization as the XRP lawsuit is close to being rounded off, according to Ripple CEO Brad Garlinghouse. Additionally, some recent developments in the biggest legal tussle of the century have been in the favor of Ripple, signaling that the judge’s anticipated final ruling could exonerate XRP of the securities claims from the SEC. 

Ripple’s XRP Buying Spree

To maintain a healthy market state for XRP as well as prevent its price from crashing outrageously, the San Francisco-based crypto solutions company engaged in hefty XRP purchases since the SEC lawsuit began. 

Notably, Ripple has bought XRP tokens worth about $8.4 billion from secondary markets since December 2020 in a bid to mitigate the impact of the SEC’s attack on the XRP Ledger digital token. This amount represents nearly 75% of the revenue generated by Ripple from the sale of XRP on the company’s On-Demand Liquidity (ODL) network. 

Ripple’s most recent report shows that the total XRP sales by Ripple, and net purchases, were $226.31 million and $310.68 million respectively in the last quarter of 2022. But from early 2021 to late 2022, Ripple accounted for $11.1 billion in ODL-related sales.

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As reported by the leading blockchain analytics platform Whale Alert, a total of 405,094,751 XRP has been shifted by deep-pocketed investors in just two transactions. 

In one of the transactions, an unknown whale transferred 153 million XRP worth $63,971,393 at the time of execution between two unknown wallets. This transaction was completed on Sunday at 19:55 UTC. 

153,000,000 #XRP (63,971,393 USD) transferred from unknown wallet to unknown wallethttps://t.co/tkTsRIp6iD

— Whale Alert (@whale_alert) January 29, 2023

Notably, the receiving wallet holds only 90.4 XRP at press time as the 153 million XRP tokens were immediately distributed to several locations including exchanges in smaller volumes. This suggests that these tokens may have been dumped in the market.

Whale Alert also noted that a total of 252,094,751 XRP tokens were transferred from one unknown wallet to another unidentified wallet by a whale about 9 hours ago. This transaction was valued at 101,046,580 USD at the time of writing. 

252,094,751 #XRP (101,046,577 USD) transferred from unknown wallet to unknown wallethttps://t.co/B3bXxNCZSp

— Whale Alert (@whale_alert) January 30, 2023

As the Ripple-SEC case seems to be winding down gradually, more whales have been accumulating and circulating millions of XRP. As reported by Times Tabloid, over 319 million XRP was moved a couple of days ago by whales in less than 24 hours. In another report, more than 356 million XRP were shuffled within a day by whales.

Read Also: Top Crypto Proponent Supports Ripple over SEC, Predicts XRP to Moon but Says He Won’t Buy. Here’s Why

This increasing whale activity suggests that XRP could moon massively in the coming days or weeks as predicted by a top crypto analyst. More so, a victory for Ripple in the XRP lawsuit expected to end by mid-2023 could further put XRP in the uptrend direction.

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